Freemont Management S.A. Invests $5.63 Million in Chevron Corporation $CVX

Freemont Management S.A. acquired a new stake in Chevron Corporation (NYSE:CVX) in the 1st quarter, HoldingsChannel reports. The fund acquired 27,200 shares of the oil and gas company’s stock, valued at approximately $5,628,000.

A number of other institutional investors have also added to or reduced their stakes in CVX. Dakota Wealth Management increased its holdings in shares of Chevron by 14.9% in the fourth quarter. Dakota Wealth Management now owns 83,265 shares of the oil and gas company’s stock valued at $12,690,000 after purchasing an additional 10,822 shares during the last quarter. Clear Trail Advisors LLC bought a new position in shares of Chevron in the fourth quarter valued at about $10,167,000. Curtis Advisory Group LLC bought a new stake in shares of Chevron during the 4th quarter worth about $1,381,000. Indivisible Partners acquired a new position in Chevron in the 4th quarter valued at about $1,923,000. Finally, Cypress Wealth Services LLC grew its stake in Chevron by 64.0% in the 4th quarter. Cypress Wealth Services LLC now owns 16,591 shares of the oil and gas company’s stock valued at $2,529,000 after buying an additional 6,475 shares during the last quarter. 72.42% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Chevron

Here are the key news stories impacting Chevron this week:

• Positive Sentiment: Chevron is expected to sign accords with Iraq to advance investments in major oil fields, including West Qurna 2 and Nassiriya, which could expand long-term production opportunities. Reuters article on Iraq oilfield MOUs
• Positive Sentiment: Reports that Chevron is exploring a pipeline alternative to the Strait of Hormuz suggest a potential way to boost Iraqi export capacity and lower shipping disruption risk, which investors may view as strategically important. The Motley Fool article on Hormuz bypass pipeline
• Positive Sentiment: Chevron is being highlighted as a relatively attractive long-term energy stock versus TotalEnergies because of its premium assets, strong balance sheet, and steadier earnings outlook. Yahoo Finance article comparing CVX and TTE
• Neutral Sentiment: Some commentary says Chevron stock looks closer to fairly valued after a strong five-year run, which may limit upside for investors expecting a clear bargain. Yahoo Finance article on valuation
• Neutral Sentiment: Chevron also benefited from broader energy-sector gains, with the sector rising even as the wider market was mixed. Yahoo Finance sector update

Analysts Set New Price Targets

CVX has been the subject of several research reports. Zacks Research downgraded shares of Chevron from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 8th. UBS Group reaffirmed a “buy” rating on shares of Chevron in a research report on Tuesday, June 23rd. TD Cowen increased their target price on Chevron from $204.00 to $205.00 and gave the stock a “hold” rating in a research note on Friday, May 8th. Sanford C. Bernstein dropped their price target on Chevron from $216.00 to $204.00 and set a “market perform” rating for the company in a report on Monday, May 11th. Finally, Wells Fargo & Company lifted their price target on Chevron from $204.00 to $222.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Nineteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Chevron currently has a consensus rating of “Moderate Buy” and an average price target of $206.83.

Chevron Trading Up 1.9%

Shares of Chevron stock opened at $187.39 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.09 and a debt-to-equity ratio of 0.21. Chevron Corporation has a 12-month low of $146.49 and a 12-month high of $214.71. The company has a market capitalization of $373.21 billion, a price-to-earnings ratio of 32.48, a PEG ratio of 0.66 and a beta of 0.50. The firm’s 50-day moving average price is $181.54 and its two-hundred day moving average price is $182.44.

Chevron (NYSE:CVX) last issued its earnings results on Friday, May 1st. The oil and gas company reported $1.41 EPS for the quarter, beating the consensus estimate of $1.00 by $0.41. Chevron had a net margin of 5.79% and a return on equity of 6.90%. The company had revenue of $47.56 billion during the quarter, compared to analysts’ expectations of $51.86 billion. During the same period in the previous year, the company earned $2.18 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts forecast that Chevron Corporation will post 14.78 earnings per share for the current fiscal year.

Chevron Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Tuesday, May 19th were given a dividend of $1.78 per share. This represents a $7.12 annualized dividend and a yield of 3.8%. The ex-dividend date was Tuesday, May 19th. Chevron’s payout ratio is currently 123.40%.

Insider Buying and Selling

In other Chevron news, Director John B. Hess sold 380,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $193.20, for a total transaction of $73,416,000.00. Following the completion of the sale, the director directly owned 278,045 shares in the company, valued at $53,718,294. This represents a 57.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is currently owned by corporate insiders.

Chevron Profile

Chevron Corporation (NYSE: CVX) is an American multinational energy company engaged in virtually all aspects of the oil and gas industry. As an integrated energy firm, Chevron’s core activities include upstream oil and natural gas exploration and production, midstream transportation and storage, downstream refining and marketing of fuels and lubricants, and petrochemical manufacturing through joint ventures and subsidiaries. The company markets fuels under brands such as Chevron, Texaco and Caltex and supplies a range of products and services to retail customers, industrial users and commercial fleets worldwide.

Chevron traces its corporate lineage to the early petroleum companies that eventually became Standard Oil of California and has evolved through significant mergers and restructurings, including the acquisitions of Gulf Oil and Texaco.